site.btaParliament Ratifies EUR 250 Mln Framework Loan from Council of Europe Development Bank

On Thursday, Parliament ratified at second reading a EUR 250 million framework loan agreement between the Council of Europe Development Bank and Bulgaria, serving as a co-financing mechanism for programmes supported by the European Social Fund Plus during the 2021–2027 programming period. The bill passed with 128 votes in favor, 34 against, and one abstention.

The Council of Europe Development Bank supports the absorption of EU funds through the provision of structural programme loans, the government, which is the bill’s sponsor, notes in its rationale.

Dimo Drenchev of Vazrazhdane noted that the loan is extremely favorable, practically interest-free. In his words, the problem is what the funds will be used for. Drenchev also pointed out that Bulgaria takes out loans every day. The document itself specifies that the funds will be used for interventions in the country’s social sphere, the MP added.